USA musician Brandy Rayana Norwood has pulled out of the Stanbic Zambia musical festival at the last minute.
Brandy was on the list of International stars that Stanbic Zambia bank lines up and use as excuse to raise money for bribing judges. The musicians are also used to launder the bank’s tattered image by staging musical festivals and bringing in famous singers.
But now Brandy has apparently seen Stanbic for what it really is and has decided not to be part of the rot. The musical festive is scheduled for this weekend a situation that has left the organisers confused. The bank is now trying to find a replacement from USA.
Being a bank that hates local products, Stanbic can not rely on local talent for its festival even at this late hour when Brandy has pulled out. They will rather pay huge amounts of Dollars to fly a foreign singer from USA. Instead, local musicians are and will only be used to warm the stage for foreign singers. Local singers will be paid ‘change’ as usual . With Zambian music being so popular currently, there is no justification apart from inherent xenophobia in Stanbic for it to spite and sideline local singers.
But then, it is from foreign singers that Stanbic diverted money from musical concerts and inflated lawyers’ fees to raise bribery fees.
In this case, Savenda v Stanbic, the High Court ordered Stanbic to compensate Savenda K192m for loss of contracts after Stanbic negligently and maliciously reported Savenda to the credit Reference Bureau. But the Court of Appeal and Supreme Court trashed the High court Judgement and instead ordered Savenda to pay costs from the time the case started, generating public outcry and suspicion that the senior Courts have been bribed. The bill which Bank lawyer Eric Silwamba wants Savenda to pay the Bank is K10 million.
Named Supreme court judges are believed to have received US192, 000 each (K1.9 Million). The figures given to Court of Appeal Judges have not yet been established but will very soon.
Bank insiders disclosed that the bank obviously could not record in their books that the money was for ‘bribes expenses’ and could not wire the dirty money to judges’ accounts. The bank therefore had to find a way to raise the money.
One of the methods Stanbic used was to inflate the bill for the 2017 Stanbic Music festival. Every year, Stanbic organises a music festival where they import some American musicians who were popular in the 1990s. Last year, they brought some other old madalas called Brian McKnight and Joe Thomas.
In the 2017 music festival, Stanbic imported Boyz ii Men and hired some local artistes to warm the stage. The local artistes were as usual paid peanuts and change from the Americans.
Stanbic insiders say that the actual cost spent on this musical project was about $500,000 but the bill was inflated with about $1,500,000. The difference went to bribe Court of Appeal and Supreme Court judges.
Interestingly, the Musical festival was held on 22 September 2017. The Court of Appeal made its judgment to trash the High Court judgment four weeks later on 22 October 2017. Standard Bank of South Africa, the head office, should consider conducting an forensic audit on these music festivals.